Precious Metals

On August 16, 2017, an arbitration tribunal convened under the Canada-Venezuela Bilateral Investment Treaty found that the Republic of Venezuela had unlawfully expropriated the gold mining assets of Rusoro Mining (“Rusoro”), a Canadian mining corporation. The arbitral tribunal ordered Venezuela to compensate Rusoro in the amount of US$967.77 million, plus interest.  With interest, the total amount due today is in excess of US$1.3 billion.  Venezuela has …

On August 16, 2017, an arbitration tribunal convened under the Canada-Venezuela Bilateral Investment Treaty found that the Republic of Venezuela had unlawfully expropriated the gold mining assets of Rusoro Mining (“Rusoro”), a Canadian mining corporation.

The arbitral tribunal ordered Venezuela to compensate Rusoro in the amount of US$967.77 million, plus interest. With interest, the total amount due today is in excess of US$1.3 billion. Venezuela has refused to pay any portion of the award. As a result, Rusoro commenced litigation in the U.S. District Court for the District of Columbia to convert the award to a U.S. judgment that can be executed against Venezuela’s assets.

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TSX21274.57-262.88
TSXV890.86-18.85
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ASX7417.30+23.40

COMMODITIES

Commodities
Gold1812.89-1.18
Silver23.44-0.01
Copper4.40+0.02
Palladium1897.50+11.50
Platinum982.00+1.00
Oil86.74+1.31
Heating Oil2.66+0.04
Natural Gas4.36+0.08

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